A5050791873- Global Health Care Issues
- Insurance, Mortality, Demography, Risk Management
- Retirement, Disability, and Employment
- Health disparities and outcomes
- Financial Literacy, Pension, Retirement Analysis
- Employment and Welfare Studies
- demographic modeling and climate adaptation
- Healthcare Policy and Management
- Labor market dynamics and wage inequality
- Health Systems, Economic Evaluations, Quality of Life
- Geochemistry and Geologic Mapping
- Social Policy and Reform Studies
- Financial Markets and Investment Strategies
- Intergenerational Family Dynamics and Caregiving
- Housing Market and Economics
Aarhus University
2015-2024
Copenhagen Business School
2019-2023
Although end-of-life medical spending is often viewed as a major component of aggregate expenditure, accurate measures this type are scarce. We used detailed health care data for the period 2009–11 from Denmark, England, France, Germany, Japan, Netherlands, Taiwan, United States, and Canadian province Quebec to measure composition magnitude in three years before death. In all nine countries, at end life was high relative other ages. Spending during last twelve months made up modest share...
Aging populations exert upwards pressure on healthcare systems, raising concerns about increasing expenditures health. This paper reviews the empirical literature issue and critically assesses strengths weaknesses of outcomes measured, methodologies used, hypotheses tested. While age strongly predicts long-term care expenditure, time-to-death factor renders aging effect null for hospital expenditure. Existing disagrees importance effects prescription drug ambulatory costs. Morbidity medical...
Abstract We introduce a new modelling framework to explain socio-economic differences in mortality terms of an affluence index that combines information on individual wealth and income. The model is illustrated using data older Danish males over the period 1985–2012 reported Statistics Denmark national register database. fits historical well, captures their key features, generates smoothed death rates allow us work with larger number sub-groups than has previously been considered feasible,...
The fact that individuals are living longer and thus spending more time in retirement challenges the sustainability of pension systems. This has forced policy makers to rethink design plans mitigate burden increased longevity. Countries such as Netherlands, Estonia, Denmark Finland have implemented reforms link age changes life expectancy. However, demographic financial implications linkages not well understood. study analyses Danish case, using high-quality data from population registers...
The justification bias in the estimated impact of health shocks on retirement is mitigated by using objective measures from a large, register-based longitudinal data set including medical diagnosis codes, along with labor market status, financial, and socio-economic variables. duration until modeled single competing risk specifications, observed unobserved heterogeneity, flexible baseline hazards. Wealth used as proxy for elapsed to mitigate potential selection stemming conditioning initial...
Abstract Using full population longitudinal data from merged administrative registers for Denmark, we document that medical spending is highly concentrated in the and persistent through time at individual level. In addition, provide overviews of institutional details Danish health care system, aggregate trends expenditures relevant register data. Nearly two‐thirds are on hospitals one‐fifth long‐term care, with remainder roughly equally split between primary prescription drugs. Health higher...
Summary Cause-specific mortality forecasting is often based on predicting cause-specific death rates independently. Only a few methods have been suggested that incorporate dependence between causes. An attractive alternative to model and forecast distributions, rather than rates, as the causes can be incorporated directly. We follow this idea propose two new models which extend current research using distributions. find adding age, time weights decomposing both joint individual variation...
We use a large administrative panel data set to study which characteristics are related households’ investments in socially responsible investing (SRI) mutual funds. To isolate financial and non-financial preferences for SRI investments, we distinguish between two types of funds; ESG charitable also analyze what extent liquid wealth age play role allocation find that participation funds is lower young retired investors. Moreover, adults more likely be investors, while investors participate...
Abstract This study analyzes the complexity of female longevity improvements. As socioeconomic status is found to influence health and mortality, we partition all individuals, at each age in every year, into five groups based on an affluence measure that combine individual's income wealth. We identify particular have been driving standstill for Danish females older ages. Within group, further analyze cause death patterns. The decline life expectancy present four out subgroups, however, with...
Summary Several Organisation for Economic Co-operation and Development countries have recently implemented an automatic link between the statutory retirement age life expectancy total population to ensure sustainability in their pension systems due increasing expectancy. As significant mortality differentials are observed across socio-economic groups, future changes these will determine whether some groups drive increases age, leaving other with fewer pensionable years. We forecast by...
The Lee and Carter (1992) model assumes that the deterministic stochastic time series dynamics load with identical weights when describing development of age-specific mortality rates. Effectively this means main characteristics simplify to a random walk drift components. But restricting adjustment mechanism linear trend components be may too strong simplification. In fact, presence component itself result from bias induced by properly fitting characterizes data. We find empirical evidence...
Abstract Declining labor force participation of older men throughout the 20th century and recent increases in have generated substantial interest understanding effect public pensions on retirement. The National Bureau Economic Research's International Social Security (ISS) Project, a long-term collaboration among researchers dozen developed countries, has explored this related questions. project employs harmonized approach to conduct within-country analyses that are combined for meaningful...
Abstract This special issue of the Journal Demographic Economics contains 10 contributions to academic literature all dealing with longevity risk and capital markets. Draft versions papers were presented at Longevity 16: The Sixteenth International Risk Capital Markets Solutions Conference that was held in Helsingør near Copenhagen on 13–14 August 2021. It hosted by PerCent Business School Pensions Institute City, University London.
This article uses Danish register data to explain the retirement decision of workers in 1990 and 1998. Many variables might be conjectured influence this such as demographic, socioeconomic, financial, health related well all same factors for spouse case individual is married. In total, we have access 399 specific that could potentially impact decision. We use variants least absolute shrinkage selection operator (Lasso) adaptive Lasso applied logistic regression order uncover determinants To...
Abstract The Danish and the Dutch pension systems are often referred to as “among best in world”. We compare products Denmark Netherlands. focus on shifts that have taken place both countries, from with relatively low levels of risk for participant more but also higher expected return. end by drawing lessons relevant discussions many countries.
Abstract We study a unique data-set containing individuals who were given the opportunity to substitute guaranteed pension product with relatively low levels of risk for market-sensitive both higher degree financial and exposure macro longevity risk. Implicitly there is hedge built into that abolished when one switches product. The analysis shows situations might arise where expected payments in fall below product, despite fact former has return from assets. find young male residents...
A socioeconomic gradient affects healthcare expenditures and longevity in opposite directions as less affluent individuals have higher current but simultaneously enjoy shorter lives. Yet, it is unclear whether this cross-sectional expenditure persists from a lifetime perspective. This paper analyzes across groups using detailed individual-level data for the entire Danish population.